Best FD Interest Rates: Top 4 Banks Offering Interest Rates Of Up To 9.50%

Several banks are offering high interest rates to customers on term deposits. Meanwhile, Reserve Bank of India's Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.50%. Some of the leading banks that are offering interest rates of up to 9.50% include Unity Small Finance Bank, Utkarsh Small Finance Bank, Equitas Small Finance Bank, and State Bank of India (SBI).

1. Unity Small Finance Bank FD Interest Rates: The bank is offering maximum interest rate of 9.50% to senior citizens on FDs for the tenure of 1001 days. Meanwhile, regular citizens can fetch the highest interest rate of 9.00% for 1001
days FD.

2. Equitas Small Finance Bank FD Interest Rates: Senior citizens are eligible to receive an interest rate of 9.00% for 888 days tenure FD with Equitas Small Finance Bank. On the other hand, regular customers can get the highest interest rate of 8.50% for 888 days FD for amount less than Rs 2 crore.

3. Utkarsh Small Finance Bank FD Interest Rates: It is giving an interest rate of 9.00% to senior citizens for FDs maturing in 700 days. Regular citizens can get the maximum interest rate of 8.25% for similar tenure FD of 700 days for deposits less than Rs 2 crore.

4. State Bank of India FD Interest Rates: It is worth mentioning that SBI has now decided to extend the validity of Amrit Kalash special fixed deposit (FD) scheme till June 30, 2023. Under this scheme, senior citizens can get the maximum interest rate of 7.60% while regular customers will be able to get 7.10% interest rate for FDs maturing in 400 days.

According to the bank's official website, "The specific tenor scheme of "400 days" (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-June-2023."

SBI is offering the highest interest rate of 7.50% to senior citizens for FDs maturing in 2 years to less than 3 years and for the same tenure, general public can fetch an interest rate of 7.00% for deposits less than Rs 2 crore.